A recent survey, found that waterfront vacation properties are the number one choice of BC residents..... I am not sure they really needed to do a survey to figure this out! The survey also found that 47 per cent of people in BC plan to use more than 20 per cent of the purchase price as a down payment for their recreational property. Water view homes are also in big demand-especially where there is easy water access-so the Cove is almost a vacationers choice-and we can live there!
Increasingly flexible mortgage plans, that can be paid down faster, are enticing an increasing number of Canadians to purchase waterfront vacation properties. Some companies, are allowing consumers can purchase a vacation property with as little as 15 per cent down and take advantage of up to 20 per cent prepayment as well as up to a 20 per cent increase in payments annually.
Not only do waterfront vacation properties make a great financial investment, they are also a great investment in a family vacation spot. Many owners of waterfront vacation properties find themselves running the family vacation destination.